Code Section Group

Corporations Code - CORP

TITLE 4. SECURITIES [25000 - 31516]

  ( Title 4 added by Stats. 1949, Ch. 384. )

DIVISION 4. BUCKET SHOP LAW [29000 - 29201]

  ( Division 4 added by Stats. 1949, Ch. 386. )

CHAPTER 3. Required Records and Statements [29200 - 29201]
  ( Chapter 3 added by Stats. 1949, Ch. 386. )

29200.
  

Every person doing business as a broker or making contracts as a broker or agent for the purchase or sale of any securities or commodities on any board of trade or exchange shall keep or cause to be kept at his or her office or place of business correct and permanent records or books of account showing each of such transactions as a separate item. The failure so to keep or cause to be kept such records or books of account is prima facie evidence that any such contract was bucketing or bucketshopping.

Such records or books of account shall at all times be open to inspection by the Commissioner of Business Oversight or by any deputy, investigator, or auditor of the Department of Business Oversight to whom he may delegate such authority in writing.

(Amended by Stats. 2013, Ch. 352, Sec. 65. Effective September 26, 2013. Operative July 1, 2013, by Sec. 543 of Ch. 352.)

29201.
  

Every person shall, upon written demand therefor, furnish to any customer or principal for whom he has executed any order for the actual purchase or sale of any securities or commodities on any board of trade or exchange, either for immediate or future delivery, a written statement showing the name of the person from whom the property was bought or to whom it was sold, as the case may be, and the time when, place where, and the price at which it was either bought or sold. If any such person refuses or neglects to furnish such a statement within forty-eight hours after such demand, the refusal or neglect is prima facie evidence that the transaction was bucketing or bucket shopping within the terms of this division.

(Added by Stats. 1949, Ch. 386.)

CORPCorporations Code - CORP